HZNP - Futures Forge Higher to Start Week
U.S. stock futures were fractionally higher early Monday ahead of a week with several anticipated events in the ongoing fight against inflation.
Futures for the Dow Jones Industrials took on 54 points, or 0.2%, early Monday to 33,795.
Futures for the S&P 500 gained 10.25 points, or 0.3%, to 3,978.50.
Futures for the NASDAQ Composite moved forward 35 points, or 0.3%, to 11,718.
Coupa Software shares were halted for news pending after Bloomberg News reported Sunday that the company was in advanced talks to be acquired by private equity firm Thoma Bravo.
Coupa was up 21% when it was halted.
Horizon Therapeutics shares rallied 15% in the pre-market after the company announced it will be acquired by Amgen for $116.50 per share, valuing the company at more than $27 billion on a fully diluted basis.
U.S. tech giant Microsoft on Monday announced a 10-year partnership with the London Stock Exchange Group and took a near 4% stake in the U.K. bourse operator.
The move in futures comes as investors will be focused on inflation this week. On Tuesday, the November consumer price index will be released, and traders will be looking for a sign that inflation is slowing.
The Federal Reserve has a two-day meeting starting the same day. The central bank is expected to announce another rate hike on Wednesday, though traders are anticipating a smaller move than in recent months.
Wall Street is coming off a rocky week that saw all three major averages lose ground. The Dow fell 2.8% for its worst week since September. The S&P 500 dropped 3.4%, while the Nasdaq Composite shed 4%.
In Japan, the Nikkei 225 retreated 0.2% Monday, while in Hong Kong, the Hang Seng Index sank 2.2%.
Oil prices slid 56 cents to $70.46 U.S. a barrel.
Gold prices faltered $5.30 to $1,805.40 U.S. an ounce.